Icon Wealth Advisors LLC Invests $605,000 in Smurfit Westrock Ltd (NYSE:SW)

Icon Wealth Advisors LLC acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,246 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in Smurfit Westrock during the 3rd quarter worth $8,519,000. Czech National Bank acquired a new position in shares of Smurfit Westrock in the third quarter worth approximately $4,967,000. SG Americas Securities LLC bought a new stake in Smurfit Westrock in the third quarter valued at approximately $843,000. Park Avenue Securities LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at approximately $561,000. Finally, GAMMA Investing LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at approximately $249,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SW. Wells Fargo & Company reduced their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Citigroup initiated coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. Finally, Morgan Stanley lifted their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Smurfit Westrock Price Performance

SW stock opened at $56.64 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average is $48.72. The company has a market cap of $29.46 billion, a PE ratio of 314.67 and a beta of 1.04. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.14%. Smurfit Westrock’s payout ratio is currently 672.22%.

Smurfit Westrock Company Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.